Chicago, March 23, 2023 (GLOBE NEWSWIRE) -- The Global Applicant Tracking System Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period, to reach USD 3.2 billion by 2026 from USD 2.3 billion in 2021, according to a new report by MarketsandMarkets™. The Applicant Tracking System Market is growing due to the presence of global and emerging players in the market. The major factors that are driving the adoption of ATS solutions among the enterprises as well as SMEs across various verticals including BFSI, government, manufacturing, telecom and IT, consumer goods and retail, healthcare and life sciences, energy and utilities, transportation and logistics, and others due to significant adoption of cloud services and security infrastructure. Developing countries across APAC and MEA are expected to offer more opportunities for vendors in the market.
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267 - Tables
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231 - Pages
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Scope of the Report
| Report Metric | Details |
| Market size value in 2021 | USD 2.3 Billion |
| Revenue forecast in 2026 | USD 3.2 Billion |
| Growth rate | CAGR of 6.7% |
| Market size available for years | 2016–2026 |
| Base year considered | 2020 |
| Forecast period | 2021–2026 |
| Segments covered | Component, Deployment Mode (On-premises, Cloud), Organization Size (SMEs, Large Enterprises), Vertical, and Region |
| Geographies covered | North America, APAC, Europe, MEA, and Latin America |
| Companies covered | Oracle(US), IBM (US), iCMIS (US), PeopleFluent (US), Cornerstone (US), Workday (US), Bullhorn (US), Ultimate Software (US), ADP (US), SAP (Germany), Jobvite (US), Silkroad Technology (US), Paycor (US), Greenhouse Software (US), ClearCompany (US), BambooHR (US), Infor (US), Zoho (India), SmartRecruiters(US), JazzHR (US), CEIPAL (US), skeeled (Luxembourg), Breezy HR (US), Ascentis (US), Tribepad (UK), Manatal(Thailand), Trakstar Hire (US), ATS OnDemand(US), Oorwin (US), TalentNest (US), and Lever (US) |
The recent economic slowdown with the impact of COVID-19 emphasizes the need for alternate business systems. It has become important for businesses to embrace cloud computing and migrate to cloud applicant tracking system solutions. The impact of the COVID-19 pandemic on the market is covered throughout the report. The pandemic has had a positive impact on the Applicant Tracking System Market. Corporates are increasingly adopting technology-aided recruitment tools that can be leveraged remotely and can ensure hiring as well as business continuity amid disruptions. ATS has increasingly gained market traction amid the ongoing COVID- 19 pandemic to cater to virtual recruitment with the growing adoption of remote working models. The COVID-19 pandemic has created an enormous challenge for businesses globally in continuing operations despite the massive shutdown of offices and other facilities. The increasing use of technologies, especially in the pandemic situation, to stay connected and efficiently operate businesses is expected to drive the market during the COVID-19.
Based on the component, the market is segmented into two categories: software, and services. The services segment to grow at a higher CAGR during the forecast period. Services, including consulting, integration and implementation, training and education, and support and maintenance, are required at various stages, starting from the pre-sale’s requirement assessment to post-sales product deployment and execution, thus enabling the client to get maximum RoI. Services constitute an integral part in deploying the solution on-board, imparting training, and handling and maintaining the software solution. Companies offering these services encompass consultants, solution experts, and dedicated project management teams that specialize in the design and delivery of critical decision support software, tools, and services.
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The Applicant Tracking System Market is segmented by deployment mode into on-premises and cloud segment. The cloud deployment mode is expected to grow at a higher CAGR during the forecast period. ATS solutions are migrating to the cloud from the on-premises deployment model as the former offers benefits such as reduced operational costs, making the technology accessible to the organizations and departments that lack capital and good infrastructure to support the on-premises deployment model. ATS software can be deployed as a cloud-based model, allowing multiple users to access information through the internet. Cloud services require no upfront cost or pay according to the user requirement. The cloud deployment model offers various benefits to organizations, such as quick deployment, scalability, and anywhere access. Data security is a major concern while adopting cloud services. Thus, organizations are moving toward private and hybrid cloud solutions.
Consumer goods and retail vertical is one of the fastest-growing verticals during the forecast period. The retail and consumer goods vertical is evolving and expected to grow rapidly in technological changes, customer needs, and employment. Tasks such as forecasting, budgeting, customer satisfaction, on-time task execution, and store labor schedules are the major challenges faced by the companies in this vertical. Moreover, retailers need to gain complete visibility and control over the recruitment of a diversified, mixed workforce that comprises in-store employees, drivers, and field service providers, who are difficult to attract by the manual Middle East and Africans. Due to such complexities, the retail and consumer goods vertical needs to select and hire the right employees.
The ATS market is segmented into five regions: North America, Europe, APAC, MEA, and Latin America. The ATS report provides insights into these regional markets in terms of market size, growth rates, future trends, market drivers, and COVID-19 impact. North America is expected to hold the largest market size in the ATS market, followed by Europe, due to the presence of ATS vendors, early technological adoption of smart technologies, rising strategic partnerships, and demand for workload-centric IT infrastructure. Moreover, the imminent need for skilled force and top talents among European and North American enterprises present a strong opportunity for ATS vendors to expand locally. The demand for ATS solutions is increasing in Asia Pacific and Latin America, due to the growing adoption of advanced technologies and increasing awareness about the benefits of advanced IT recruitment solutions.
Market Players
The Applicant Tracking System Market comprises major providers, such Oracle (US), IBM (US), iCMIS (US), PeopleFluent (US), Cornerstone (US), Workday (US), Bullhorn (US), Ultimate Software (US), ADP (US), SAP (Germany), Jobvite (US), Silkroad Technology (US), Paycor (US), Greenhouse Software (US), ClearCompany (US), BambooHR (US), Infor (US), Zoho (India), SmartRecruiters (US), JazzHR (US), CEIPAL (US), skeeled (Luxembourg), Breezy HR (US), Ascentis (US), Tribepad (UK), Manatal (Thailand), Trakstar Hire (US), ATS OnDemand (US), Oorwin (US), TalentNest (US), and Lever (US).
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